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NewsTin price closes firmer prompted by European buying support
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Tin price closes firmer prompted by European buying support
by hlk Wed 29 May 2013, 15:33
Business & Markets 2013
Written by Bernama
Wednesday, 29 May 2013 15:04
A + / A - / Reset
KUALA LUMPUR (May 29): The Kuala Lumpur Tin Market (KLTM)
closed US$130 per tonne higher at US$21,180 a tonne, prompted by
European buying support, dealers said.
He said the performance was also in tandem with the metal's better
performance on the London Metal Exchange (LME), which rose US$70
per tonne to US$21,125 per tonne.
"The rise on the KLTM was higher than that on the LME," a dealer told
Bernama, adding that the current level was attractive to lure buyers.
The metal is expected to appreciate up to US$22,000 per tonne on the
LME today.
At the opening bell, sellers offered 35 tonnes while buyers bid for 70
tonnes.
Japanese, European and local traders accounted for today's turnover of
54 tonnes from yesterday's 30 onnes.
Meanwhile, the premium between the KLTM and LME widened to
US$445 per tonne from US$385 per tonne previously. – Reuters
Written by Bernama
Wednesday, 29 May 2013 15:04
A + / A - / Reset
KUALA LUMPUR (May 29): The Kuala Lumpur Tin Market (KLTM)
closed US$130 per tonne higher at US$21,180 a tonne, prompted by
European buying support, dealers said.
He said the performance was also in tandem with the metal's better
performance on the London Metal Exchange (LME), which rose US$70
per tonne to US$21,125 per tonne.
"The rise on the KLTM was higher than that on the LME," a dealer told
Bernama, adding that the current level was attractive to lure buyers.
The metal is expected to appreciate up to US$22,000 per tonne on the
LME today.
At the opening bell, sellers offered 35 tonnes while buyers bid for 70
tonnes.
Japanese, European and local traders accounted for today's turnover of
54 tonnes from yesterday's 30 onnes.
Meanwhile, the premium between the KLTM and LME widened to
US$445 per tonne from US$385 per tonne previously. – Reuters
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